Listen: Amazon CCI probe; Top-rung rejig at MakeMyTrip; Udaan’s valuation jump

Listen: Amazon CCI probe; Top-rung rejig at MakeMyTrip; Udaan’s valuation jump
Photo Credit: Pixabay

TechCircle’s podcast TechThisWeek brings you news and insights, wrapped up in a weekly roundup of the following hand-picked developments in the startup and enterprise technology ecosystems in India.

This week saw MakeMyTrip’s Deep Kalra stepping down as the company’s CEO. He will focus on strategic initiatives as executive chairman of the company, passing on the CEO torch to Rajesh Magow.

B2B ecommerce marketplace Udaan claims to be valued at $7.5 billion based on projected cash flows and upcoming equity infusions of over three years. According to the Registrar of Companies (RoC) filings, Udaan’s parent company Hiveloop Technology approved a resolution last month to receive $51 million in an internal infusion from its Singapore-based parent Trustroot Internet. This is likely to be a part of a larger $140.7 million equity capital infusion that the company expects to receive by March.

The Karnataka High Court granted interim relief to Amazon by staying the Competition Commission of India (CCI) investigation into the ecommerce company. The CCI had ordered a probe into Amazon and Flipkart on January 13 following a complaint by traders body Delhi Vyapar Mahasangh. Amazon on February 10 filed a writ petition, seeking the stay.

Microsoft’s latest digital civil index shows a dip in India’s civility index from 59% in 2018 to 71% in 2019. This was attributed to unwanted contact (40%), hate speech (23%), trolling (21%) and unwanted sexting (26%).

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